It’s prediction time again. With all of the certainty that many outlets are predicting for 2014, we decided to look a little farther ahead. Here are some predictions about the ways that real-time data analytics will change our lives, Smart Data Collective reports.
Outcomes are an important motivator in the business world and beyond, but just how much are companies driven by the end goal that inspired their whole enterprise? What if the process of reaching a desirable outcome was more efficient because metric-based evidence had eliminated time-wasting efforts?
Automatic data analysis will allow workers to significantly shorten the time dedicated to research and grappling to form insight needed for reliable, focused planning. As companies grow their presence on social media, through email, and obtain access to other data sets that could augment and inform their internal information, the chance to quickly understand a market shift grows more realistic.
These new forms of customer information are growing in business thanks to content-driven marketing, and should be employed to create more efficient market segmentation development. As tools to interpret and act on data become increasingly more effective and more automated, the time to go from data collection to action shrinks from months and years to days and weeks.
When a team uses an automatic analytics tool, the project is done in a fraction of the time. As workers collect more data on the outcome of projects, they can discover inefficiencies and address them. This revolution doesn’t stop with the projects above, though.
Worker productivity is has been a challenge for ages, borne both from the need to produce more and for the sake of making workers’ lives more livable. When data can be collected around the kind of job done, how long it takes to complete it well, and what skills are needed to do the job, companies are able to perform more targeted hiring to find the right people, and potentially to hire based on the metrics of a team’s strengths and weaknesses.